The Europarliament is encouraging data sharing, but it’s ideas for smart contracts are not encouraging at all.
in a statement, and this act would encourage greater use of those resources to train algorithms and lower prices for device repairs.
The act contains provisions to protect trade secrets and avoid unlawful data transfers and it set requirements for the smart contracts of parties offering sharable data, including “safe termination and interruption”: “The smart contract shall include internal functions which can reset or instruct the contract to stop or interrupt the operation; […] Especially, it should be assessed under which conditions non-consensual termination or interruption should be permissible.”Experts identified a number of issues with the legislation.
“Including a kill switch undermines immutability guarantees and introduces a point of failure since someone needs to govern the use of such a kill switch. […] Many smart contracts such as Uniswap do not have this kill switch ability.”Prof. Thibault Schrepel of the Vrije Universiteit Amsterdam said in a tweet that the act, “endangers smart contracts to an extent that no one can predict,” and pointed out sources of legal uncertainty in the act.
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